Investment Needs and Incentives in the Elderly Care Sector Webinar

A webinar on Investment Needs and Incentives in the Elderly Care Sector was held on March 15, 2023 within the scope of the Elderly Rights Movement Project, funded by the European Union under the Cypriot Civil Society at Work VII Grant Scheme.
The webinar was successfully completed with the active participation of 60 people.
The first speaker of the webinar, Dr. Alper Tunga Demirarslan evaluated the investment needs in the elderly care sector and stated that the elderly need to live in their own homes, 24/7 professional care, personalized nutrition, warm climate and activities. Giving examples from Germany, Turkey and the United Kingdom, he stated that Turkey, which has a population of 6.5 million elderly people, has only 400 nursing homes, and that the number of nursing homes is still insufficient, but the financial support provided by the state has increased significantly.
The second speaker, Prof. Dr. Feray Gökdoğan explored the demographic transformation of old age. She stated that the increase in the elderly population is faster than the general population growth, at a rate of 250% in developing countries, and mentioned the important and urgent need for investments in these areas. This rapid increase had a negative impact on health expenditures and pension systems, as well as negatively affecting the labour market, employment and sustainable development, she said.
The third speaker, Chairperson of the Association of Elderly Rights and Mental Health, Prof. Dr. Hatice Jenkins, conveyed the current situation of elderly care in the north of Cyprus. She talked about social changes, population growth, deficiencies in legal regulations and the grievances experienced by families regarding home care. Prof. Dr. Jenkins pointed out that caregivers providing services are generally uneducated, and and that 2 nursing homes were closed in the past year, adding that there are only 6 nursing homes in the north of Cyprus.
The existing nursing homes are not suitable for elderly care, and that the number and quality of staff are not sufficient, she said.
According to the results of their research, Jenkins stated that 85% of the society finds nursing home services inadequate, and 82% of them would like to have their elderly looked after in a nursing home if the nursing homes are at the desired standards. Drawing attention to the responsibility of both governments and individuals in terms of elderly care, Jenkins pointed out that individuals are responsible for planning their own old age and allocating financial resources, while states are responsible for working to improve the legal and institutional environment, creating financial resources for investments, personnel training and organization.

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